Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

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Wednesday, August 29, 2012

Europe slide becomes a slither

The latest Euro-zone manufacturing PMI was up a tad (though the services PMI fell by an even bigger amount, so that the average still declined).  But we've had sad little rallies before.  They;ve just fizzled out.

Hard to see how Europe can start recovering while deep fiscal cuts keep on being implemented and re-implemented.




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